Farmers and Merchants Bank v. Gibson

MEMORANDUM OPINION UPON REMAND

N. SANDERS SAULS, Bankruptcy Judge.

Upon remand and after consideration of the additional memoranda and evidence adduced, it now appears that the subsequent foreclosures by the Bank and this court’s further consideration of the exemption policies as to the homestead property involved renders the prior entered order directing marshaling moot. The bank has foreclosed upon the non-homestead individually owned tract of land without receiving payment of its outstanding debt in full. The remaining property mortgaged to the Bank is the homestead.

The effect of the prior…